Answered step by step
Verified Expert Solution
Question
1 Approved Answer
7. The combination of tax increases, tighter spending controls, and a very strong economy helped move the U.S. government budget from deficit to surplus by
7. The combination of tax increases, tighter spending controls, and a very strong economy helped move the U.S. government budget from deficit to surplus by the end of the 1990s. Explain how these events led from budget deficit to surplus and relate them to the concepts of discretionary fiscal policy, automatic stabilization, budget line, cyclical deficit, and natural employment deficit.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started